1. Field of the Invention
The present invention relates to transactions, and more specifically, to using electronic devices for negotiating purchase of products.
2. Description of Related Art
In retail environments, such as grocery stores and other “brick and mortar” stores, many products are available for sale to consumers at various prices. Over time, it becomes desirable for retailers to sale certain products. For example, perishable food products, such as meat and milk, have an expected shelf life or expiration date after which the product cannot be sold. As the expiration date approaches, discounts may be applied to such products to further motivate consumers to purchase the products. Retailers may also be motivated to reduce the price or add some other value to products such as clothing products, which are seasonal.
Oftentimes, retailers will re-price products or advertise discounts on products that the retailers are interested in quickly selling. However, product re-pricing and advertising can be time consuming and expensive to a retailer. For at least these reasons, there is a need for improved techniques for setting prices at which consumers will purchase products.